Grain Department
 
Here at Ag Plus, we strive to provide information to our customers to
help them in achieving their marketing goals.  If you have any questions feel free to contact Dave or Laura.
 
Daily Grain Comments

Tuesday, July 10th, 2018

 

Markets were sharply lower on corn and wheat today.  Rainfall in the Black Sea region has helped the wheat crop in that area.  Very quiet day on market news today with little to drive the markets.  We tested support levels on corn today but were able to close above them.  USDA announced sales of 60,000 MT of corn to Egypt for this year and 53,000 MT for the 18/19 crop year.  They also announced that Mexico was cancelling the purchase of 152,000 MT of sorghum from the U.S.  CONAB released updated crop numbers for the Brazilian crop.  Corn production was put at 82.93 MT, down from 85.0 last month but above the trade guess of 82.0.  The bean crop was raised from 118.1 MT to 118.9 MT, right on the average guess.  USDA will release their updated numbers on Thursday at noon.  Outside markets have the dollar up 68 points, gold is down $3.90, and sivler is down 50 points.  Crude oil is up 23 cents at $74.08.  Stocks are all stronger on good earning releases today.  The Dow futures are up 154, Nasdaq is up 1, and S & P is up 9.  Weekly crop condition reports were released yesterday at 4:00 P.M.  Corn conditions were reported at 75% good/excellent, down 1% from the previous week and 10% better than last year.  Corn silking was reported at 37% silking, up from 17% the previous week and better than the 18% last year and the 5 year average of 18%.  Soybean conditions were reported at 71% good/excellent, same as last week and much better than the 62% last year.  Soybean bloom was reported at 47%, up from 27% the previous week and 32% last year and 27% on the 5 year average.  Winter wheat harvest is reported at 63% complete, up 12% from the previous week and comparable to last year at 65% and the 5 year average of 61%.  Spring wheat was rated at 80% good/excellent, up from 77% last week and 35% last year.  Many areas IL and IA are reporting that one more rain and the crop will be a new record.  Areas of the SW and west are reporting dry conditions with some concern for the yields.          

Support levels on September corn are at $3.46-3/4 and 3.35-1/4 and resistance is at $3.60-1/4 and $3.64.  Support on December corn is at $3.58-1/2 and $3.42  and resistance was $3.73 and $3.80-1/4.  Support on August beans is at $8.37 and $8.25 and resistance is at $8.91 and $9.00.  Support on November beans is at $8.53-1/4 and $8.50 and resistance is at $9.00 and $9.07-1/2.  Support on September wheat is at $4.95 and $4.80 and resistance is at $5.21-1/2 and $5.33.      

  

Grain Marketing Services

 

ATTENTION: IMPORTANT INFORMATION

Ag Plus has been notified by local soybean and corn processors that they will not accept any corn or soybeans that are not approved for export.

 

This list would include, but not be limited to: Duracade corn, Roundup Ready 2 Extend beans, Enlist corn and beans, Vistive beans and Plenish beans. 

 

Ag Plus wants you to understand that our policy is that we cannot accept any grain that is not approved for export shipment until the local processors or terminals will accept them.  We cannot accept any grains that are tainted or contaminated by, produced from, or contain any amount of genetically modified seed.  We also cannot accept GMO events that have not received full and final approval for import/use by any domestic or foreign markets; not limited to the United States, China, European Union, or any other export market.

 

If you are uncertain on a seed product that you intend to plant or have planted, please check with us before planting/shipping grain to any Ag Plus location.  If you have already planted a non-approved product, we will do our best to work with you to help market the grain; but you must notify us before any delivery of grain.    Failure to notify us before delivery will result in liability to the farmer.

 

Any seller that delivers unapproved agricultural commodities that include products which are produced from, tainted or contaminated by, or contain any amount of GMO seed or GMO events not approved in all export markets; shall be in breach of the contract with Ag Plus.  The seller will then be liable for all direct or consequential damages, including but not limited to, any losses arising from facility closure, extra handling or reduced operating capacity, and all removal and cleaning costs.  This liability could also include any damages or issues caused at processing facilities or terminals that Ag Plus may deliver grain to, from our farm customer.

 

We hope to have these issues resolved by the seed companies before any matters arise.  We will notify our customers once the issues have been resolved but this policy will remain in effect until then. 

WILL NOT ACCEPT

WILL NOT ACCEPT

Delivery of soybeans/corn produced from the following seed products:

 

                                                     Bayer soybeans

                                                         Event FG72

  

VistiveGold soybeans                       Bayer/Syngenta soybeans

MON 87705 (Monsanto)                            SYHTOH2

 

Soymega™ soybeans                            Dow soybeans

MON 87769 (Monsanto)                           DAS-81419-2

 

Dow Enlist E3™ soybeans                    Monsanto soybeans

DAS-44406-6                                         MON 87712

 

Dow Enlist ™ soybeans                        Monsanto soybeans

DAS-68416-4                                         MON 87751

 

Syngenta Duracade corn                      Plenish™ soybeans

                                                            (DuPont/Pioneer)

 

 

“UNACCEPTABLE AGRICULTURAL COMMODITIES” INCLUDING COMMODITIES THAT INCLUDE, ARE PRODUCED FROM, OR CONTAIN ANY AMOUNT OF, SOYBEAN WITH MONSANTO’SROUNDUP READY 2 XTEND™ TECHNOLOGY.

 

ANY SELLER THAT DELIVERS UNACCEPTABLE AGRICULTURAL COMMODITIES SHALL BE IN BREACH OF ITS CONTRACT AND WILL BE LIABLE FOR DIRECT AND CONSEQUENTIAL DAMAGES, INCLUDING WITHOUT LIMITATION, ANY LOSSES ARISING FROM FACILITY CLOSURE OR REDUCED OPERATING CAPACITY AND ALL REMOVAL AND CLEANING COSTS.

Attention

As of today (9/23/16) all Ag Plus locations will be accepting Xtend™ Soybeans

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Quotes retrieved on July 15, 2018, 05:32:53 PM CDT